Delhi CNG Prices Hike by Rs 3.89
CNG prices in Delhi-NCR have been increased by Rs 3.89 per kg, making it Rs 86.98 per kg in the national capital.
The hike follows a previous increase of Rs 2 in late May, which was attributed to rising international Liquefied Natural Gas (LNG) prices due to ongoing conflicts in West Asia.
Indraprastha Gas Limited (IGL), the company responsible for supplying CNG, stated that imported LNG accounts for a significant share of the gas used. With spot market prices remaining high, IGL deemed it necessary to make a calibrated revision to partially offset the increase in input costs.
The rise in global LNG rates is linked to disruptions in energy shipments through the Strait of Hormuz, a critical route carrying nearly one-fifth of the world's energy needs. Additionally, rising demand in Europe ahead of winter has put further pressure on prices.